Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

Cenovus Energy Inc. has signed a US$300-million deal that it says marks another step forward in its long-term strategy to integrate its heavy oil production with refining capability. 

The Calgary-based oil company announced Monday it has reached a deal with British energy giant BP to buy the remaining 50 per cent stake in the BP-Husky Toledo Refinery in Ohio. The two companies have also signed a multi-year product supply agreement.

Arcola town hall: Scott Moe on refining our oil, and value-added industries

Arcola town hall: Scott Moe on refining our oil, and value-added industries

One question centred on refining our oil product and access to markets. Moe touched on value added processing and a recent micro refinery near Kerrobert.
Harrison spoke about how oil and gas has been affected by uncertainty from the federal government.
Moe noted how one Saskatchewan farmer recently told the federal agriculture minister, “The biggest risks to my current enterprise is government policies.”

Arcola town hall: Scott Moe on loss of Ceres canola crush plant, carbon credits, agricultural zero till, oil and gas

Arcola town hall: Scott Moe on loss of Ceres canola crush plant, carbon credits, agricultural zero till, oil and gas

The question from Murray Henderson of Alameda asks about how Ceres Global Ag recently suspended its planned $350 million canola crushing plant at Northgate, and how it may have been lost due to the federal carbon tax. Moe and Bonk touched on recognizing the innovation in zero tillage and how agriculture should be recognized as a carbon sink. Listen to the end to hear a rather comical interaction Moe had with Catherine McKenna when he was environment minister and she was the federal environment minister.

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